HUD Articles

HUD has several special community-based programs, one of which is the Neighbor Next Door Program. HUD describes the program as "Buying a home through HUD's Good Neighbor Next Door initiative is designed to encourage renewal of revitalization areas by providing an opportunity for law enforcement officers, firefighters, emergency medical technicians and teachers to purchase homes in these communities. HUD provides a substantial incentive in the form of a 50% discount off the list price of eligible properties." The 50% discount is provided by a second mortgage and note that allows an off set of the principal balance if the program conditions are met. The condition that must be met is an eligible buyer commit to live in the property as their principal residence for 36 months.  Locate an eligible property and submit your interest thru HUDHOMESTORE.COM, if more than one person is interested, then selection of winner will be done by random lottery